In the fickle and cyclical semiconductor industry, market trends and pricing are constantly shifting.
NXP Semiconductors N.V., which develops electronics solutions for the connected car, cybersecurity, portable and wearable devices, and the Internet of Things (IoT), understands this all too well.
Manufacturers and distributors require flexibility and rapid access to market intelligence to adapt to ever-changing market conditions and to keep pace with competitors. Specifically, NXP needed a way to quickly and effectively spot and act on market drivers and trends ahead of its competitors.
Although NXP managers and executives had been using a reporting tool, it wasn’t capable of fulfilling the needs of the business.
Capturing market intelligence and analyzing the information to gain insights using that tool required business users to collect and insert data from various data sources into desktop spreadsheets. That meant it took an extremely long time before business leaders could even begin analyzing the information.
“Business users were spending a lot of time gathering the data and combining sets together in traditional tools like Excel or Access, which takes a lot of time,” says Henri den Hollander, Solution Manager at NXP.
NXP turned to TIBCO Spotfire for an analytics solution that would bolster efficiency and create faster time-to-insight for its business users.
“The difference between Spotfire and other analytical tools is, in my opinion, the capability to combine multiple data sources easily and visually analyze information. For business users, it’s easy to use and even easy for them to develop in,” says den Hollander.
By providing the ability to quickly combine disparate data sources without custom scripting or the need for IT intervention, NXP’s business users can capture, analyze, report, and act on data faster.
Not only have NXP business users gained a more visual means of exploring data through TIBCO Spotfire’s data visualization capabilities, they also have much more time to understand and obtain insight from data since they no longer have to spend dozens of hours each month gathering and combining data sets.
“With Spotfire, the data’s already there,” says den Hollander. “All [business users] have to do is connect and hit the refresh button to get new data. Rather than spending one week every month gathering information and making the same dashboard over and over, they can do analysis right away.”
Additionally, den Hollander believes that if NXP’s business users are able to analyze data and become smarter because they’re able to spend more time with the data, they’re going to find ways to solve problems and run operations better.